Trading goods credit in post gst

This query is : Open

sharad (Querist)
Follow

03 May 2017 Dear Sir,

We are manufacturer as well as trader but we are not passing duty against traded material.
On 30th June 2017 all of our Trading Stock for which we had not claimed credit ,then how can we claim credit for such stock, because we have to pay GST on the same.

Please suggest me and provision for this issue?

Sharwan Baluni

Sharwan Baluni (Expert)
Follow

08 May 2017 As per section 140(1) you can avail the CENVAT credit of the stock of traded goods carrying forward in the return for the period ending on 30.06.2017. In your case you haven't shown CENVAT credit of the traded goods ao you are not allowed to take credit. If you can mention the CENVAT credit on the return for the month of june then only it can be available. You have to also file FORM GST TRAN 1 showing certain details under Transitional Rules